Carl, who share income in the ratio of 5:3:2 is 600,000, 400,000, and 300,000, respectively. The partners agreed to admit Dan. Before the admission of Dan, the three current partners agreed that some of the inventory is obsolete and thus its book value has decreased. In the admission, Dan invested 320,000 for a 20% nterest. If there was no bonus to any of the four partners, what s the amount of inventory written down? a) 60k b) 20k c) 300k d) 5k
Carl, who share income in the ratio of 5:3:2 is 600,000, 400,000, and 300,000, respectively. The partners agreed to admit Dan. Before the admission of Dan, the three current partners agreed that some of the inventory is obsolete and thus its book value has decreased. In the admission, Dan invested 320,000 for a 20% nterest. If there was no bonus to any of the four partners, what s the amount of inventory written down? a) 60k b) 20k c) 300k d) 5k
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 3EA: The partnership of Tasha and Bill shares profits and losses in a 50:50 ratio, and the partners have...
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